Allied Nevada Gold Corp. is providing an update to 2014 guidance included in our Quarterly Report on Form 10-Q for the period ended September 30, 2014. In late-October and November, we encountered a significant amount of acid leach material in our planned mining areas that had an adverse effect on our drilling and processing capabilities.
Acid leach material is a fine, chalky material that slows drilling and reduces available ore to mine. As a result of the poor drilling, we did not place the planned ounces on the leach pad. Our mining rates have now returned to planned levels. On the process side, acid leach has a slow percolation rate that requires us to slow solution flows to ensure no ponding or channeling takes place on the leach pad. Because a majority of ounces placed on the pad in mid-October and November were acid leach material, we did not see solution breakthrough as quickly as we anticipated based on our leach curves. We have now begun to see release from the acid leach material, though we estimate it is approximately one month behind expectation. The ounces that were expected in November and December from that material are now expected to be released from the leach pad in the first quarter of 2015. As a result, we now expect 2014 full year metal sales to approximate 210,000 to 220,000 ounces of gold and 1.8 million to 1.9 million ounces of silver, which is lower than our previously expected range of 220,000 to 230,000 ounces of gold and 1.9 million to 2.0 million ounces of silver.
With respect to our financial position, on November 28, 2014, we funded our regularly scheduled interest payment to the senior note holders and continue to meet all of our financial obligations and commitments. Consistent with our goal of preserving liquidity, we have been working to sell excess assets that are not required to meet our current mine plans. During the fourth quarter of 2014 we entered into sales agreements for total proceeds of $8.9 million, of which a portion of the proceeds ($5.4 million) will be used to eliminate the capital leases associated with that equipment. As of November 30, 2014 we had collected $5.0 million and had used $3.8 million of that to retire the related capital lease obligation.
As a result of the foregoing we are also updating the Liquidity and Capital Resources discussion as disclosed in our Third Quarter Form 10-Q. As of November 30, 2014, we had cash and cash equivalents of $1.3 million, $10 million in restricted cash deposits with the revolving credit facility ("Revolver") lenders, $48.0 million drawn on the Revolver and an additional $14.2 million of letters of credit pledged to collateralize the mark-to-market liability position of a portion of our cross currency swap. We now have $12.8 million remaining available under the Revolver. As previously disclosed, we continue to evaluate all financing options and strategies that may improve our current liquidity and financial condition.